GAMMA Investing LLC Increases Holdings in Rio Tinto Group (NYSE:RIO)

GAMMA Investing LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 8,119.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,964 shares of the mining company's stock after acquiring an additional 151,103 shares during the quarter. GAMMA Investing LLC's holdings in Rio Tinto Group were worth $9,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RIO. Rakuten Securities Inc. increased its position in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after acquiring an additional 211 shares during the period. Mechanics Financial Corp bought a new stake in shares of Rio Tinto Group in the fourth quarter worth about $29,000. Golden State Wealth Management LLC bought a new position in Rio Tinto Group during the 4th quarter valued at approximately $47,000. Ameriflex Group Inc. purchased a new stake in Rio Tinto Group in the 4th quarter worth approximately $47,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Rio Tinto Group in the 4th quarter worth approximately $59,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIO has been the topic of several research analyst reports. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Wall Street Zen lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto Group in a research report on Tuesday, June 3rd. Finally, Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Stock Up 0.4%

Shares of Rio Tinto Group stock traded up $0.26 during trading on Monday, hitting $59.29. The company's stock had a trading volume of 3,007,881 shares, compared to its average volume of 2,920,615. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a market capitalization of $74.35 billion, a PE ratio of 9.19, a P/E/G ratio of 0.42 and a beta of 0.68. The company has a fifty day simple moving average of $59.17 and a two-hundred day simple moving average of $60.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.